MEFIC Capital, MEFIC REIT Fund manager, said it has waived its management fees for all the units subscribed to the fund for one year starting from the units listing date.
The step will have a positive impact on the fund units during the first fiscal year after listing, MEFIC Capital said in a bourse statement.
The fund manager also emphasized its commitment to achieve at least 5 percent yield during the upcoming eight years as disclosed on the fund’s terms and conditions.
MEFIC REIT Fund will be listed on Tadawul on Nov. 13, 2018 with the code4346 under real estate traded funds category, according to data available on Argaam.
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